Suits Me® is open as usual as the Wirecard scandal has caused thousands across the UK to be locked out of their accounts. Since Suits Me® is in no way affiliated with Wirecard, we would like to reassure all customers that our service remains unaffected. Your money is safe and ready to access whenever you need it.
Financial technology (fintech) company, Wirecard, disclosed that £1.7 billion was unaccounted for in its latest budget. Its German parent company filed for insolvency earlier this week and their CEO, Markus Braun, has handed himself over to Munich prosecutors.
The firm released a statement on its website saying: “Wirecard has temporarily suspended its electronic money issuing, card issuing and acquiring business with immediate effect and until further notice.”
Wirecard provided a variety of fintech services, ranging from managing thousands of online bank accounts to loading prepaid travel money cards for prominent UK businesses such as Asda and British Airways
The firm and its creditors stand to lose billions of euros and put almost 6000 jobs at risk.
Online banking apps including Pockit, Anna Money, Curve, Card One and Tuxedo use Wirecard to run their accounts.
The Financial Conduct Authority has ordered Wirecard UK “to cease all regulated activities in order to further protect customer money” and has revoked their licence amid the ongoing scandal.
Thousands have been locked out of their bank accounts leaving them unable to use their money. Some have taken to social media to complain that they are unable to make essential payments for food, rent and bills.
Their customers’ funds are also not protected by the Financial Services Compensation Scheme. The FCA has advised customers to contact their card provider to gain information on the next steps.
Alternative Banking with Suits Me®
Suits Me® and Wirecard are not associated. We can guarantee that our customers’ money remains safe and free to access.
It only takes 3 minutes to open a new Suits Me® account, once created you can start loading funds onto it straight away. With industry-standard security and customer support, you can swap to a Suits Me® account and have your new debit card in as little as three days.